It is not enough, however, to revel in the irony or the hypocrisy of the Administration's current plans. Two things are central: one is solving the financial crisis, and the other is doing so in a way that preserves constitutional values of oversight, checks and balances, and accountability to the rule of law. The government must have the power to act, but only the powers it actually needs, and not those it would enjoy having for the foreseeable future. It must be able to make decisions, but not without any accountability or oversight. That is what the debate is and should be about, and even though it nominally concerns the passage of an emergency measure, it is ultimately a debate of constitutional proportions.

And American taxpayers deserve to know that their money will not allow for a continuation of the status quo: short term profit at the expense of long term viability; obscene bonuses and golden parachutes regardless of performance; reckless risk taking that have placed the markets in so much jeopardy; rewards for those who foreclose on middle class families and sell mortgages designed to fail to turn a profit; and outsourcing of good jobs to serve short term stock prices instead of America's long term economic health. The prevailing dynamic of corporate America, where the sole priority was the dividend, the inflated bonus and the quarterly earnings report, must give way to a new respect for the long term prosperity of the American worker and the well being of the middle class.

that much power. Think that the Democratic congress people care more about themselves than following Obama.

As I understand what Schumer and Dodd said this a.m., it has to be done NOW and the delay will be lead to a penurious
future for all of us. Like Great Depression II.

I am not sure Obama needs to say anything except what he already has said. There may be things he does not know and
it seems appropriate to say little. Calling for him to lead on this may b e setting him up.

a bit with Hillary and perhaps some other leading Democrats, the push back on the blank check could get rolling. Hillary could help lend some credibility to whatever Obama says among certain demographics.

And I expect Bill Clinton will have something to say about the economy tomorrow (tomorrow?) on the View. Maybe he can give Hasselbeck the smack down and we can all watch it on TV and laugh.

because "he is the leader of our party" the Democrats in Congress will listen to him.

From what he said in his release, so said Barney Frank and Hillary. He was a little late but I also know he needed the cover.

Why do you insist he needs to lead on this? He wants to win and he is a politician. This crisis is so hot that I think he would be wise, as he has been, to say he needs some time. Are you saying you have so much faith in Obama that whatever he says on a two day old international crisis that he would have the answers?

they will. They'll have no problem defying him. The only thing can stop this is if Pelosi doesn't allow a vote on it. Lots of the congressional reps don't want to be associated with Obama anyway so voting against what he wants would be a way to show their "independence."

...actions (or groups of actions) to address the rescue plan/bailout on one hand, and the morgage mess and other causes of the larger problem on the other hand?

Both of these things need fixing, and both need the sort of oversight, checks and balances, and accountability to the rule of law that Balkin mentions. (Plus transparency!)

But it seems to me that if we try to fix all the causes of the problem on the same week and in the same bill that we use to set the rules for the $700 billion plan, it might add a lot of loopholes and clutter and fuel for partisan squabbling in the months to come.

I keep wanting to try to compare this whole thing to a heart attack suffered by someone who hasn't taken care of themselves. Long term, they'll have to change their eating patterns, excersise levels and other parts of their lifestyle, but those hours that they're on the operating table or in the emergency room may not be the time or place to be getting into the details of their diet and various drug addictions. It would be the right time and place to set the appointment for that sort of separate treatment to fix the causes, though. In my opinion anyway. But that's just my thought.

Among other hot buttons, I will find it galling if the same institutions that benefit from the bailout funds double dip by earning enormous fees for acting as the agents for the Fed (as the bill proposes) in evaluating and liquidating the financial products that got them into trouble.

The Paulson plan has to be acted on right away or we're all in the soup. I expect Congress will put some general restrictions, time limits, that sort of thing, on what he's proposing. But they're going to approve the basic outlines quickly and overwhelmingly. Paulson is an extremely smart and knowledgeable technocrat, not a Dick Cheney ideologue.

that's what this is about. It will be simple for the plutocracy to make the case that Healthcare for all Americans will no longer be affordable since Americans rescued the infinitely greedy and wealthy this coming week.

That's what American's elected representatives will be trading for this week: more yachts and endless globe-trotting vacations for the obscenely wealthy in exchange for less and less healthcare for average Americans.

We just got our power back. 8 days without electricity, about 5 without drinkable water (unless boiled, which could be hard without power), most things closed, long lines for federal rations, etc.

And that was the easy part. We didn't lose our homes or our jobs. Being 'legal' we don't have to avoid FEMA, police, anyone looking federal. We have a healthy pet, an intact family. We got electricity before many, though 5 days after our very wealthy friend.

We do unfortunately have two properties in Galveston, one of which we were trying to sell. Not likely anytime soon. Probably we'll end up with a hit to our savings, but it could be so much worse.

He needs to work hard at both Ohio and Florida. And Michigan and Pennsylvania. None of these are a lock for him or McCain. Colorado is only 9 electoral votes. I think people are paying too much attention to it.

Sept. 19, 5 pm: PALM BEACH COUNTY, FL - Black Box Voting has received word that a decision was made not to deploy the six-figure video surveillance system purchased by Palm Beach County Elections in the Aug. 26 primary election, where 3,500 ballots went missing. Black Box Voting was told this after filing a Freedom of Information request for the surveillance video. We'll keep you posted.

My gut feeling is there are several states where the fix is already more than in. We have proven we cannot hold an honest and clean national election and we have done nothing, zero, zip to address it adequately. I guess I'm okay with a tainted Obama "victory", but every day the election nears I get more and more cynical.

I am disturbed that we have reached the point where people question our ability to hold free and fair elections? Dadler is one of many concerned with this and there are just as many on the right who believe the system is compromised by "voter fraud." Doesn't a lack of faith in the integrity of our elections end up undermining a democracy?

Now comes the bigger task: making sure inexperienced voters can navigate two new state laws. The first is the so-called "No match, no vote" law, which requires a match between a voter's driver's license or Social Security number and a government database. Critics say database records are riddled with errors.

A second law allows citizens to challenge the legitimacy of fellow voters. Challengers need not prove their accusations. Instead, the challenged voter has two days to justify his right to cast a ballot.

State Republican lawmakers who pushed the law say it will help combat fraud. Democrats call it a vote-suppression measure. "Now why would the legislature make it easier to challenge, instead of, say spending more money on voter education?" said Chuck Lichtman, a Fort Lauderdale attorney. He heads a Democratic effort to put volunteer lawyers in every Florida precinct. Mr. Lichtman says 5,000 lawyers have signed up for the task, up from 3,500 in 2004.

Aside from the statistical terminology, eg, regression analysis, etc, he seems to be basically factoring in trends that he sees in the national traking and other polls to give states to Obama that the state polls do not yet justify. Ohio and Virginia? Yes, Virginia, there is a Santa Claus.

Let's say the last VA poll taken was last week and showed Obama -2 when he was even on the trackers.

Now the national trackers have him +4 a week later, but there's no new VA poll this week. 538 assumes that if a state poll was taken this week, it should be 4 points better for Obama than last week (more or less, if you assume a national trend can be attributed to the same number in each state; it depends on state and some other things). Therefore, it is more likely that VA is Obama+2 than it still is O-2.

He also looks at state-to-state comparisons....so last nights PPP which had NC tied would imply that a PPP poll of VA would show Obama up, since VA is always considered a better state for Obama than NC.

since they just straight average the last X number of polls, regardless of who the pollster is, sample size or methodology.

Pollster is better because at least they weight more recent polls more highly.

I find 538's methodology interesting--basically it says that every poll has some kind of useful information in it, as to national trend, other states. And it should be weighted by the pollster's reliability, sample size, etc.

The only thing he really tweaked is how fast his trend model reacts to new information, that's why it got jumpy recently.

An as an aside, his graph of what the 2 convention bounces would look like was almost dead on--like it was pre-ordained no matter what with the economy or Palin.

If the Democrats are viewed as obstructing a deal for political reasons and the markets tank, the advantage on the economy will switch to McCain. The public doesn't care whose fault it was. They don't care about being punitive. They just want the problem fixed and the crisis averted.

I think the public cares a lot. It is all people are talking about. Most people I talk to don't even want this bail out. They think it is welfare for the rich with no punishment for their actions...which it is. I don't support this bail out at all.

If dems give these guys a free pass and they will pay for it. I think this is one of those rare moments in American history where there will be consequences to political votes.

when the markets and the economy tank. It's a dangerous game of chicken. Worrying about the CEO's golden parachutes is like worrying about the store clerk making out with some merchandise while the store burns.

Worrying about the CEO's golden parachutes is like worrying about the store clerk making out with some merchandise while the store burns.

A more accurate example would be the manager of the store emptying the safe as he sets the store on fire. Then get everyone to pitch in money to keep the business open and letting the manager keep his job.

We are talking about the size of the CEO parachute (10's of millions) compared to the size of the bailout. Yes, CEO compensation needs revision but getting credit flowing and averting disaster is higher priority. We can address CEO compensation and other structural issues later. Reminds me of these lines from Dylan.

As the island slowly sank
The loser finally broke the bank in the gambling room.
The dealer said, "It's too late now.
You can take your money, but I don't know how
You'll spend it in the tomb."

Senator Barack Obama, the Democratic nominee, will be hunkering down for "debate camp" in Florida starting on Tuesday. The Times's Jeff Zeleny notes that while Mr. Obama will have no big events in the critical swing state next week, Mr. Obama's "mere presence (fueled by a few photo opportunities) will surely draw considerable local media attention and put to rest any suggestions that he does not intend to aggressively compete in the state with Senator John McCain."

I'm glad that Obama is taking the debates quite seriously, as I am sure many millions will be tuned in. But...is he really shutting down for almost 4 days in order to prepare? Throw all the advisers on a bus and keep campaigning, I say.

Since that article I read here ("Palin Costing McCain Support in Florida") suggested that Floridians do not like Palin much at all...I wonder what votes they are trying to gain by having her sit in Florida. She seemed to be driving people away from McCain.

and many are snowbirds who vote in other states. McCain may change that this year. Who knows.

NW FL (panhandle) is the South as is some of NE.
Central, the I-4 corridor, has a lot of conservative voters; S FL, Palm Beach to Fort Lauderdale, is Democratic and South, Miami, Democrat and Cuban influence who usually vote conservative. The Fl Keys are a mix.

There are some variables this time; Bush, economy, AA vote and Gov Crist. Jeb Bush was well liked; Crist is getting some flack right now and he is too new. The Jewish

will be in Wisconsin tomorrow, in Green Bay. A rather late-scheduled stop, as word wasn't out until today, that I saw -- and it's the first for which tickets are not needed. McCain and Palin were there this week and well-received. Green Bay is one of the few sometimes-Dem pockets in a predominantly red state.

They're also rolling out Michelle Obama to three stops in Wisconsin this week -- upstate to spots I don't see going blue but one in Dem stronghold Milwaukee (i.e., West Allis, a working-class burb so old it might as well be in the city) without even a time set as yet, per local media.

Interesting, for a campaign that has been so scheduled. I gather that the "debate camp" is nearby, back home in Chicago.

As of September 2008, the total U.S. federal debt was approximately $9.7 trillion[2], about $31,700 per capita (that is, per U.S. resident). Of this amount, debt held by the public was roughly $5.3 trillion.[3] If, in addition, unfunded Medicaid, Social Security, Medicare, etc. promises are added, this figure rises to a total of $59.1 trillion.[4] In 2007, the public debt was 36.9 percent of GDP [5], with a total debt of 65.5 percent of GDP.[6] The CIA ranked the total percentage as 26th in the world.[7]

Perhaps you meant 83% of the annual budget but that doesn't seem right either.

Net interest on the U.S. national debt was approximately $240 billion in fiscal years 2007 and 2008. This represented approximately 9.5% of government receipts. Interest was the fourth largest single disbursement category, after defense, Social Security, and Medicare.[53]Paying off the debt would free up these funds for other purposes.

I am in favor of government ating quickly to deal with this crisis. The risks of not acting are real in economic terms. I don't want to be playing a game of chicken over philosophical and political differences. There will be plenty of time to deal with those once the crisis is averted.

trust him one bit. BTD says he is an Obama apologist and I agree with him on that. Certainly all polls are faulty to a point but he does some serious massaging of number to be putting OH in Obama's column right now.

This really is little more than a scam to make the taxpayers provide the money to cover the losses for all the bad debt issued by the financial industry. What the Democrats have to do is refuse to get on board and put forward their own legislation that actually addresses the problem, send that to Bush and dare the bastard to veto it. Hang this around Bush's neck and stop letting the High Broderists shame the Dems into backing down. Barney Frank and Hillary are showing them how it's done.

Yes, Harry & Nancy, it IS class warfare, there is no "bipartisan" option, and you have a world historic moment in which to redefine both your party and your nation for the better.

Do you stand with Hoover or with FDR?

Anglachel

I also followed the link in the story which was very very interesting and I feel that everyone should read.